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Zillow: 30-Year Fixed Rates Up Two Basis Points

NationalMortgageProfessional.com
Jun 17, 2014

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.06 percent, up two basis points from this time last week. The 30-year fixed mortgage rate peaked at 4.15 percent on Wednesday before dropping to 4.08 percent on Thursday, where rates hovered for the remainder of the week. "Limited new domestic economic data and ongoing international uncertainty helped keep mortgage rates steady last week," said Erin Lantz, vice president of mortgages at Zillow. "Looking ahead, we expect rates to remain steady this week, unless the Federal Open Market Committee announces significant policy changes that would affect the pace of stimulus wind down." Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgage Marketplace site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey. The rate for a 15-year fixed home loan is currently 3.08 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.83 percent.
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